FG begins computation of GDP in six states

Abuja – Dr Shamsuddeen Usman, the Minister of National Planning Commission, says that the National Bureau of Statistics (NBS) has computed Gross Domestic Products (GDP) in six pilot states.

This was contained in a statement issued on Tuesday in Abuja by the Head, Information unit of the Commission, Mr Salisu Haiba.

Usman while flagging-off of the State GDP Computation Project in Nigeria in Minna, Niger, said that six pilot states that had been selected were Anambra, Rivers, Niger, Kano, Lagos, Gombe and Rivers.

He said that the six states were selected based on the size of their economies and commitment of reform programmes.

“The barometer for measuring the performance of any economy world over, is the Gross Domestic Product (GDP), which has its origin over a century ago.

“The National Bureau of Statistics (NBS), as a parastatal agency under this commission has over the years been compiling the GDP on an aggregate basis as done in advanced and emerging economies,’’ Usman said.

He described the project as significant in the economic history of Nigeria being the first time it was being undertaken by the NBS.

The minister said that the project required the support of all stakeholders in Nigeria to ensure that the process took off successfully.

He said that the effective computation of the GDP would provide the most comprehensive and reliable measure of economic activity at the sub-national level.

He added that the published data was also expected to serve as a basis for effective benchmarking of the economies of the states for investment decisions by potential investors in the country. (NAN)